Let’s talk about tokens today.
The Altcoins... because if we are getting near the end of the “bear trap” I predicted
we currently are in...those alts are going to run.
Like run forest run because after the bear trap is mania phase, or my term for it, the
last hoorah.
So you maniacs...can you give me a hoorah?
Because it’s time for Chico Crypto!
Yesterday it seemed a touch of mania was already beginning!
Coinbase late to the partay, decided to finally do it and list Dogecoin to Coinbase Pro.
And the Coinbase listing effect still had it’s power.
Checking out the Dogecoin price chart, some explosive moves, which has shot it up by over
51 percent since it’s Saturday lows.
Which got ole Elon tweeting again.
In response to Coinbase Pro listing it, he posted (dot dot dot) and a retweet of the
meme of the doge storm standard, taking over the global financial system and him saying
its inevitable.
So, there is a play with Doge still to this day.
Just 2 weeks ago, May 20th Elon tweeted this.
How much is that Doge in the Window.
With a picture of what looks to be a 1 dollar dogebill, on a laptop, in front of a neon
Cyberviking sign.
Aka Elon wants to see Doge to a buckeroo as it didn’t hit it when everyone thought it
would with his SNL appearance…
So, what could be coming that would push it to that Dollar mark?
Well remember whe Elon tweeted that Tesla was no longer accepting Bitcoin for payments?
He also said they were looking at other crypto’s that use less than 1 percent of BTC’s energy
per transaction.
Well dogecoin fits that bill!
It only takes .12 kilowatt hours consumed per doge transaction, while BTC takes 707
kilowatt hours.
That tis less than 1 percent….
And then there was this, just 3 weeks ago.
Elon put out a poll for the public.
Asking the twitterverse if they want Tesla to accept Dogecoin.
Which got a nearly 80 percent YES with almost 4 million votes.
In my opinion, it’s pretty obvious a Tesla announcement of Dogecoin for payment is coming
and probably coming this Summer.
Within the next month or two.
And that hype, combined with a rebound in the markets should see Dogecoin relook towards
that dollar mark.
Now, moving down the market cap rankings...to the most popular and dominant DEX in the space.
Uniswap!!
We are closing in on the 1 month anniversary of the v3 launch of their exchange...so it’s
time to talk about LP, liquidity pool positions, and how to make it easier on yourself to add
liquidity to the exchange.
Uniswap v2 made adding liquidity to trading pools simple..you just selected the pair you
want, put equal value amounts of each in, and supplied and confirmed the transaction,
receiving a LP token.
It was automated for you….you didn’t have to change or set anything.
I’m sure some of you have seen today, what v3 is like...there are things you have to
set, like the fee, which isn't too bad...but also the one that confuses everybody...the
price ranges!
A minimum and maximum price to create the range.
Then going to Uniswap v3 liquidity documentation the team says “If the price moves outside
of the LP's specified range, their position will be concentrated in one of the two assets
and not earn trading fees until the price returns to their range….
Yeah, you have to keep a close eye on your LP positions, and the price, as if it moves
out of your set ranges, you don’t earn fees.
You have to be active...which the team says in that documentation “When making a price
range decision, LPs should consider the extent to which they think prices will move over
the course of their position's lifetime and their willingness to actively manage their
positions (and all the costs associated with more active management).”
So for those who don’t know what they are doing...or don’t have the time to be so
active.
How do you provide Liquidity to Uniswap easily??
Well there is the Sommelier Finance pairing app!!
Going to that it says it the easiest way to add liquidity to Uniswap v3.
Heck yeah, Chico likes…
And it is pretty dang easy.
You just search for the v3 pair you want to add liquidity to and click into it.
We are doing Link and WrappedETH.
Select the pair you want, altcoin and eth or wrapped eth and the amount of each.
Once that is filled in, you select your sentiment for ETH, are you neutral..you think Link vs
ETH are gonna hodl the same.
Are you bearish on ETH vs LINK, or are you bullish on ETH vs LINK.
It changes the price ranges for you based on this.You then set your gas price, and click
add liquidity.
Much, much, much more simple than setting the ranges yourself within v3’s liquidity
interface.
So I’m sure you are asking yourself a token??
For Sommelier?
Not yet, they put out their product first, and plan to launch the token later.
SOMM It’s coming...just no official date yet!
Definitely one to keep an eye on though….
But speaking of Uniswap LP positions, and automating...that leads us right into a sponsored
segment of this video, supported by the team over at Peanut and like always the full details
of our agreement are down in the description…
Jumping right to their website found at peanut.trade, a link for that is down below in the description,
we can see what their main selling point is.
They are a DeFi Price Balancer for DEX users to reduce slippage and impermanent loss & the
main product is the liquidity balancer.
Jumping to that's landing page, they describe it as putting your liquidity on autopilot
and maximizing LP profits.
Very nice...they continue.
Peanut is the first-ever automated liquidity balancer for Uniswap v3 that concentrates
liquidity price range based on real-time market conditions.
Basically, this means Peanut will take the complexity out of the price ranges with v3.
They will automatically adjust and move them to the most capital efficient and profitable
ones.
Keeping you earning the most fees….instead of those who do it it manually, falling out
of profitable ranges...and the stats are looking good from their initial research.
Providing more fees per dollar than just uniswap v3 alone & manual adjustments.
Besides, automatic adjustments Peanut has something in the works with Curve, they partnered
together & Michael Egorov, CEO of curve said this about the peanut solution: “The presence
of slippage is a huge inconvenience, and can sometimes carry significant risks for DEXs.
Peanut provides a great solution to this problem.
By using only 10% of user funds in a centralized manner (cross-exchange arbitrage), Peanut
manages to achieve significantly higher efficiency of the mechanics and returns for users.
Although ack at their website you can see its a waitlist to join, which makes sense,
as Uniswap v3 just launched less than a month ago..but I’m sure it’s close to being
ready...so get signed up so you don’t miss the initial launch!
But, also releasing soon, to work alongside their v3 product, is another piece of their
DeFi puzzle.
Peanut FeeNo.
Feeno is an SDK which can be integrated into blockchain apps like crypto wallets, DEXs,
lending protocols to enable ETH-free transactions and swaps, provide 100% front-run protection
and even can offer a cashback to the app users.
Also with Feeno you don’t need ETH at all, no matter which ERC-20 tokens you send or
swap.
Yes, others projects and apps can and will use FeeNo to help their own users.
One of the first use case, for FeeNo will be Peanuts own products, like the v3 liquidity
balancer...but since it’s an SDK, others can easily plug it in and use it too.
So if, any of this fits your crypto fancy, links for the peanut are below!
Now I want to finish this episode off with a bit of crypto alpha leak...including an
airdrop you might be eligible to claim!
So let’s begin with the airdrop...this is from Ribbon Finance, and at their website,
they say they are a sustainable alpha for everyone, earning yield on crypto assets through
DeFi’s first structured products protocol.
And they have one product out, the yield….with 3 other structured products coming soon….and
then scrolling down to the investors...it’s an alpha list….DragonFly, Coinbase, Joe
Lubin, and even Kain Warwick
So how do you get the airdrop?
Well you have to go to their app found at app.ribbon.finance and then in the top right
corner, click red RBN, connect a wallet & see if you have any!
Who is eligible?
A total of 4M RBN was distributed between users of existing options protocols on Ethereum:
Hegic, Opyn, Charm, and Primitive.
We talked about Hegic...we talked about Opyn...you may be eligible!
their Kusama parachain.
And scrolling down to the genesis token distribution...you can see 61 percent of AIR tokens, for the
parachiain are airdropped to CFG holders.
1 CFG gets you 1 AIR….and with the parachain auctions on Kusama right around the corner….this
snapshot airdrop is becoming more likely to happen by the day.
Chico likes.
Cheers I’ll see you next time!